Today in the Connected Economy: Apple to Step up iPhone Production

Today in the connected economy, Apple tells its suppliers to boost production on new iPhones, while also planning to possibly raise the price of the latest models. Plus, retailers are divided on Mastercard’s installment payment program, and the United Kingdom’s Barclaycard teams with communications firm BT to help fuel the growth of small businesses.

Apple Tells iPhone Makers to Boost Production, Report Says

Apple has instructed its suppliers to make 90 million new iPhones this year, in keeping with last year’s production levels. The company is reportedly trying to build a total of 220 million of its phones this year, the same amount it put out in 2021. The company is also considering raising the average selling price of its next iPhone model by as much as 15%.

Retailers Bristle at Mastercard Installment-Payment Terms

Retailers are objecting to a 3% purchase-price charge from Mastercard levied when customers use a new installment payment plan. While some merchants are upset about the program’s fees, others have said they support it because the charge is lower than other companies that let retailers offer a stand-alone buy now, pay later (BNPL) options charge.

Barclaycard Payments Joins BT to Offer Benefits to UK Microbusinesses

Barclaycard Payments has joined the BT partnership network, which is designed to seed the growth of small businesses in the U.K. The network is an effort by the British telecommunications company to boost the growth of U.K. businesses and the public sector.